First-round QB Bo Nix signs contract with Broncos on first day of rookie minicamp

Broncos first-round quarterback Bo Nix signed his first NFL contract on Friday, the team announced. Nix, the 12th overall pick in last month's draft, has a four-year deal worth a fully guaranteed $18.61 million and comes with a $10.36 million signing bonus, multiple sources confirmed to The Denver Post. Like all first-round picks, Nix's contract has an option for a fifth year. Rookie contracts don't involve the kind of negotiating that went on before the 2011 collective bargaining agreement instituted a rookie wage scale.